The D113 $89M referendum narrowly passed in April 2013 by a 52% to 48% vote. HOWEVER:
...and District 113 does not need to borrow $89 Million
The following comes from District 113's own books: 1. District 113 took in over $107 Million in 2012 REVENUE (page 7)
(This is over $28,000 per student)
2. District 113 had over $95 Million in CASH ON HAND (page 13) 3. District 113 had UNRESTRICTED reserves of 46.9 Million (page 6) and could spend $25 Million NOW without jeopardizing its AAA rating
4. District 113 added $7M to unrestricted reserves each year for the past two years
5. District 113 has already indicated that it can spend $5 Million per year from current funds (page 6) District 113 could easily fund the $60 Million Education First plan by applying $25 Million from reserves and $7M per year over the next 5 years WITHOUT ANY REFERENDUM AT ALL
What is in District 113's new plan?
- $19.6M Two new pools each with diving wells
- $21.2M Two new gyms with 5 new basketball courts
- $29.9M New HVAC - Air Conditioning
- $18.8M Tear down and replace historic "C" Building
- $7.3M Repurpose the historic "B" Building
- $8.8M Technology and library/courtyard
- $1.6M Security and Fire Protection
- $7.2M Plumbing, electrical and lighting
- $2.5M Other ADA Compliance and Physical Education
District 113 Did Not Need a Referendum
District 113 Does Not Need to Borrow $89 Million.
Bring the project in for less (25% is for contingencies).
Use some reserves.
Reduce our property taxes!
April 2013 Election Results
Yes: 8156 52%
No: 7414 48%
Needed 372 yes voters to have voted no.